GoodEnough Energy announced on Tuesday its plans to commence operations at India's inaugural battery energy storage gigafactory, located in the northern region of Jammu and Kashmir, by October.
According to a statement by GoodEnough, the facility is poised to assist industries in reducing over 5 million tons of carbon emissions annually. This initiative aligns with India's target of achieving net zero emissions by 2070.
Having already invested 1.5 billion rupees ($18.07 million) in the construction of the 7 gigawatt-hours (GWh) capacity facility, GoodEnough intends to further expand its capabilities to 20 GWh by 2027 with an additional investment of 3 billion rupees, as confirmed by its founder, Akash Kaushik.
Battery energy storage projects play a pivotal role in India's ambitious strategy to bolster its renewable energy capacity to 500 gigawatts (GW) by 2030, a significant leap from the current capacity of 178 GW.
To incentivize companies participating in battery storage projects, the Indian government has earmarked $452 million in incentives under a dedicated program.
These battery energy storage systems facilitate the storage of energy generated from renewable sources such as solar and wind, enabling its release as needed, thereby enhancing grid stability and resilience.
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